ORANGE, Conn. (AP) — ORANGE, Conn. (AP) — Avangrid Inc. (AGR) on Tuesday reported fourth-quarter net income of $147 million.
On a per-share basis, the Orange, Connecticut-based company said it had net income of 38 cents. Earnings, adjusted for non-recurring costs, came to 39 cents per share.
The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 39 cents per share.
The diversified energy and utility company posted revenue of $2.16 billion in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $1.87 billion.
For the year, the company reported profit of $881 million, or $2.27 per share. Revenue was reported as $7.92 billion.
Avangrid expects full-year earnings in the range of $2.20 to $2.35 per share.
Avangrid shares have declined 6% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $40.36, a decrease of nearly 8% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AGR at https://www.zacks.com/ap/AGR
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